Subject: File No. S7-24-15
From: Ray Arditi

February 20, 2020

Inverse funds are important to me in order to protect my assets and portfolio. I have been investing in the market for decades and don't want a third party telling me how I ought to be investing. In my opinion, this would set a dangerous precedent and would make investing riskier as it would be difficult to protect from a major market decline. Inverse funds are not difficult to understand, but perhaps brokers could be required to provide a tutorial to all investors.